Case Law Details
Case Name : Bharati Shipyard Ltd. Vs The Dy. Commissioner of Income Tax (ITAT Mumbai)
Related Assessment Year : 2005- 06
Courts :
All ITAT ITAT Mumbai
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Bharati Shipyard Ltd. Vs DCIT (ITAT Mumbai Special Bench) – The Finance Act, 2010 has extended the time limit for depositing tax deducted at source by the due date u/s 139(1) of the Act from the earlier lesser time available for compliance. If the tax is deposited by the due date, it would mean escape from the clutches of section 40(a)(ia) for assessment year 2010-2011, but if it is deposited even the next day beyond the due date, natural consequences would follow and it would call for dis-allowance u/s 40(a)(ia) in the year of incu
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Sir,
we have paid rent Rs.450,000/- p.a in FY 2009-2010 to owner of the premises and has not deducted TDS in the FY year and even in subsequent year.
What will be the consequences, whether whole of Rent of Rs 450000/- will be disallowed or 30% of rent will be disallowed.
Pls. explain.